SEC Charges 3 in North Carolina with Insider Trading

InAudit – The Securities and Exchange Commission has charged a former member of the board of directors at a North Carolina-based insurance company with illegally tipping inside information about an impending merger

The SEC alleges that H. Thomas Davis, Jr., who has a home in Wilmington N.C., breached his fiduciary duty to Mercer Insurance Group and its shareholders when he shared confidential details about the company’s negotiations to be acquired by United Fire.